Ag Policy
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Another Reason to Use a LLC Versus a Partnership
I came across a recent court case regarding the non-discharge of farm debt for a husband and wife in a partnership. The husband had provided a “borrowing base certificate” to the lender showing the farm owned about 4,700 head of cattle when in reality the farm never had more than 1,000 cattle at any one […]
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Diary Producer Continues Expansion into China
In yesterday’s Wall Street Journal, there was an interview with Andrew Ferrier, the Chief Executive of Fonterra Co-Operative Group of New Zealand. This company is the third largest dairy exporter in the world with sales of about $13 billion, profits of $500 million and almost 16,000 employees. It is interesting that a small country like New […]
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Tomorrow’s Top Producer
I am in Chicago this week attending both the Top Producer conference and yesterday I attended the Tomorrow’s Top Producer and also gave a brief talk on income tax changes for 2011. There appears to be about 100 of tomorrow’s best farmers attending the conference and at lunch time, my wife and I were talking […]
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TEPAP – Final Day
After six great days of presentation, we have finally come to the last day of the TEPAP conference. This is only a morning session and our presentation on public relations plans was giving by Moe Russell of the Russell Consulting Group. Moe shared that we had 3 sets of good time in the last 100 […]
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Top 5 Trend of 2010 – High Commodity Prices
I think one of the major trends for 2010 and going into 2011 is the continuing high level of commodity prices for most grains, livestock, sugar, cotton, etc. In 2008, we had high level of prices in the grains, however, the pricing for livestock was much lower and cotton was close to a $1 cheaper […]
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Top 5 Trend – Obama Care
We will be posting each day this week a top 5 trend or item for 2010. It may be related to taxes or other items that have affected farmers either in 2010 or looking forward to 2011. Our first top 5 item is Obama Care. This is actually the result of two bills that were […]
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World Corn Production Could Double Using US Methods!
The Federal Reserve Bank of Kansas City publishes several good Ag related articles each year. They recently did a quick snapshot of the US Ag Economy and one of the slides represented the current corn production for the world. The graph showed the actual production for 2009 and the anticipated production assuming each country would […]
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President Obama Signs Tax Relief Act of 2010!
Yesterday, President Obama signed the Tax Relief Act of 2010. As discussed in previous posts, this bill has many tax benefits for farmers and their families and operations. We will continue to give you real world examples in the next couple weeks that can save your operation income taxes.
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Congress Passes Tax Act – President to Sign Soon!
Late last night, the House passed The Tax Relief Act of 2010 with a fairly large majority vote of 277-148. This is the exact same bill that came over from the Senate so there will be no changes to the Act and President Obama should sign the bill before Christmas. As discussed in some of […]
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Senate Should Pass 2010 Tax Relief Act Today!
The Senate is expected to pass their 2010 Tax Relief Act today and then pass it onto the House for their review. The only expected snag in the House is related to the Estate Tax portions of the bill. Some of the more liberal House Democrats do not want to raise the lifetime exemption to […]